E-Z-EM nets record sales for fiscal year

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Contrast media and delivery developer E-Z-EM of Lake Success, N.Y., reported it achieved fiscal 2007 (end-June 2) record revenues and a growth in net income for its fourth quarter.

The company reported fourth quarter net sales from continuing operations of $36.7 million, essentially flat compared with net sales of $36.8 million for the previous year’s fourth quarter. However, it recorded net earnings of $2.78 million, compared with net earnings of $1.35 million for the 2006 fiscal fourth quarter (end-June 3, 2006).

For the fiscal year, E-Z-EM posted record net sales of $137.8 million, up slightly from net sales from continuing operations of $137.1 million for the prior fiscal year. Net earnings for the year dipped slightly to $8.54 million, compared with net earnings for fiscal 2006 of $9.77 million.

The firm said it expects net sales to be $155 to $160 million, and net earnings to be $8.6 to $9.0 million in fiscal 2008.